Analysts Set Tidewater Inc. (NYSE:TDW) PT at $111.25

Shares of Tidewater Inc. (NYSE:TDW) have been given an average rating of “Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $111.25.

A number of equities research analysts have issued reports on TDW shares. Raymond James upped their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th.

Tidewater Trading Up 2.2 %

NYSE:TDW opened at $73.34 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The firm has a 50-day moving average of $83.79 and a 200-day moving average of $92.71. The company has a market cap of $3.85 billion, a PE ratio of 29.21 and a beta of 1.13. Tidewater has a one year low of $54.53 and a one year high of $111.42.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.72 by $0.22. The company had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, equities research analysts expect that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has authorized a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDW. GAMMA Investing LLC boosted its stake in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 156 shares during the last quarter. Quarry LP purchased a new position in Tidewater in the second quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Tidewater in the first quarter valued at about $28,000. Finally, Hollencrest Capital Management purchased a new position in Tidewater in the second quarter valued at about $30,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.